|
Industry
Country/Economy
April
(month)
May
(month)
June
(month)
July
(month)
August
(month)
25 September
(14-day rolling
average)
All
-41%
-39%
-13%
-11%
4%
-4%
Australia
-34%
-41%
-23%
-19%
-3%
-11%
Brazil
-51%
-46%
-21%
-8%
-2%
3%
China
-11%
-11%
2%
-8%
10%
11%
France
-67%
-40%
3%
-3%
24%
3%
Italy
-57%
-48%
-22%
-13%
2%
-11%
Singapore
-25%
-39%
3%
-9%
4%
-5%
United Kingdom
-42%
-45%
-27%
-19%
-4%
-11%
United States
-40%
-39%
-19%
-11%
0%
-11%
Consumer Goods
-61%
-53%
-27%
-22%
-5%
-14%
Australia
-44%
-50%
-24%
-21%
-11%
-12%
France
-75%
-50%
-13%
-12%
8%
-3%
Italy
-76%
-62%
-35%
-27%
-8%
-31%
United Kingdom
-56%
-55%
-40%
-31%
-11%
-8%
United States
-53%
-48%
-21%
-16%
-2%
-14%
Finance
-42%
-38%
-21%
-13%
3%
-7%
Australia
-19%
-37%
-27%
-28%
-1%
-7%
France
-72%
-41%
1%
-8%
12%
6%
Italy
-48%
-41%
-31%
-3%
7%
-9%
United Kingdom
-39%
-37%
-34%
-23%
-13%
-18%
United States
-33%
-34%
-14%
-3%
9%
-6%
Health Care
-23%
-22%
6%
1%
23%
8%
Australia
-12%
-26%
-1%
6%
19%
14%
France
-54%
-19%
37%
10%
40%
17%
Italy
-29%
-27%
2%
0%
26%
1%
United Kingdom
10%
-4%
1%
-5%
18%
7%
United States
-28%
-33%
-11%
-6%
14%
0%
Manufacturing
-53%
-45%
-20%
-18%
3%
-6%
Australia
-34%
-31%
-18%
-12%
3%
5%
France
-71%
-39%
-1%
-14%
20%
-8%
Italy
-61%
-54%
-34%
-18%
-4%
-16%
United Kingdom
-51%
-55%
-38%
-32%
-4%
-4%
United States
-47%
-47%
-12%
-13%
3%
-8%
Recreation & Travel
-79%
-74%
-43%
-32%
-20%
-28%
Australia
-77%
-77%
-51%
-44%
-43%
-50%
France
-82%
-70%
-15%
-8%
11%
-5%
Italy
-87%
-78%
-40%
-28%
-15%
n/a
United Kingdom
-73%
-77%
-63%
-50%
-23%
-26%
United States
-75%
-69%
-44%
-32%
-28%
-31%
Retail
-53%
-47%
-15%
-5%
13%
4%
Australia
-38%
-44%
-18%
-6%
9%
5%
France
-68%
-38%
21%
9%
41%
20%
Italy
-73%
-58%
-27%
7%
10%
-1%
United Kingdom
-42%
-48%
-28%
-22%
1%
2%
United States
-46%
-48%
-24%
-13%
6%
-8%
Software & IT Services
-38%
-36%
-15%
-22%
-3%
-14%
Australia
-27%
-37%
-24%
-23%
-4%
-12%
France
-61%
-35%
-7%
-24%
0%
-20%
Italy
-43%
-44%
-24%
-16%
-2%
-10%
United Kingdom
-31%
-39%
-6%
-27%
-6%
-16%
United States
-28%
-26%
-14%
-22%
-2%
-12%
Source
LinkedIn Economic Graph.
Note
Values in brown indicate where the hiring rate
is lower than in 2019, while values in green
indicate where the rate is higher than 2019.
The darker the colour, the lower/higher the rate.
The Future of Jobs
16
This tentative rebound is not equally distributed across
industries. Figure 7 shows the year-on-year change in
hiring rates throughout April, May, June, July, August,
and most of September for seven key industries and
the seven economies tracked by LinkedIn. Among the
notable findings are those indicating a persistent hiring
slump in Recreation and Travel, Consumer Goods
and Manufacturing. Also striking is that the Software
and IT sector, which is not shedding jobs at the same
rate as other industries, is also not hiring at the same
rate as this time last year. The same observation
also holds for the Finance Industry. It is perhaps not
surprising that the Health and Healthcare industry has
maintained the closest to comparable hiring rates to
this time last year.
In sum, unemployment and hiring rates suggest
a significant number of individuals were displaced
across labour markets over the month of April 2020.
While those figures have stopped trending in a
negative direction in the period up to July 2020, this
recovery remains tentative, with unequal geographic
and industry patterns. Longer persistence of these
trends is likely to entrench labour market scarring,
lead to an overall reduction in employment and
entrench worker displacement.
As a result of the twin forces of the Fourth Industrial
revolution and the COVID-19 recession, day-to-day
digitalization has leapt forward, with a large-scale
shift to remote working and e-commerce, driving a
surge in work-from-home arrangements and a new
marketplace for remote work. However, it has also
brought about significant well-being challenges as
workers have struggled to adapt to new ways of
work over a short period of time.
In the COVID-19 context, workers have been
segmented into three categories: 1) ‘essential
workers’ such as delivery personnel, carers and
health workers, food shop workers, agricultural
workers and manufacturers of medical goods; 2)
‘remote workers’ who can work remotely and are
likely to keep their jobs; and 3) ‘displaced workers’
who have been displaced from their jobs in the
short term and potentially in the future, and who fall
disproportionately into the sectors most negatively
affected by the pandemic—Hospitality, Retail,
Service work as well as Travel and Tourism.
All three types of workers are facing a wholesale shift
in working practices, which now require new types of
resilience and entail a reskilling or upskilling agenda.
For essential workers, physical safety remains a
paramount concern. Displaced workers are facing
significant job uncertainty, and a short-term or
permanent need to shift roles. Remote workers are
faced with potential well-being and mental health
challenges due to extensive changes to working
practices as well as new areas of exclusion such as
access to digital connectivity, living circumstances
and the additional care responsibilities faced by
parents or those looking after elderly relatives.
16
New evidence from Chief Human Resource Officers
completing the Forum’s Future of Jobs 2020 Survey
indicates that, on average, 44% of workers are able
to work remotely during the COVID-19 crisis while
24% of workers are unable to perform their current
role. This estimate indicates an aspiration to expand
the availability of remote work. The current theoretical
share of jobs that can be performed remotely in any
given economy has been approximated at 38% of
jobs in high-income countries, 25% in upper-middle
income economies, 17% in lower-middle income
economies and 13% in low-income economies.
17
When
adjusted to account for disparities in internet access by
economy, the same figures decrease to 33.6% of jobs
in high income economies, 17.8% of jobs in upper-
middle income economies, 10% of jobs in lower-middle
income economies, and just 4% of jobs in low income
economies.
18
Figure 8 plots the estimated share of
workers unable to work remotely against the GDP per
capita for each country. According to such estimates
around 60% of workers in high-income countries such
as the United States and Switzerland are unable to fully
work from home. This figure rises to more than 80-90%
for economies such as Egypt and Bangladesh.
Sectoral differences underpin the estimates shared
above. A larger share of roles in the Finance
and Insurance and Information and Professional
Services sectors can be performed remotely,
while Accommodation and Food Services,
Agriculture, Retail, Construction, Transportation and
Warehousing offer fewer opportunities for remote
work.
19
Figure 9 presents one estimate of the
associated risk to employment across different sub-
industries: 47% of workers in the Accommodation
and Food Services sector, 15% in Wholesale
and Retail Trade and 15% of the workforce in
Transportation are at risk of unemployment.
Despite the limitations listed above, demand from
employers for remote-based work is increasing
rapidly across economies. Insights from the
Glassdoor online platform show that access to
working from home has nearly doubled since 2011,
from 28% to 54% of workers mentioning that they
had the opportunity to work from home.
20
The
industries with the largest opportunity to work from
home are the Information Technology and Insurance
industries, with 74% of workers in those industries
reporting having access to remote working. But there
are also industries such as Finance, Legal work and
Business Services, which could, in theory, perform
more remote work.
1.3
The remote and hybrid workforce
The Future of Jobs
17
Estimated share of workers unable to work from home, by per capita GDP
Estimated share of workers at risk of unemployment, by sub-industry
F I G U R E 8
F I G U R E 9
Source
Dingel & Neuman, World Bank Home Based Work (HBW) index,
World Bank's
World Development Indicators
database.
Source
Brussevich, et al, 2020.
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
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